Russia🇷🇺: The Central Bank investigates money transfers abroad using cryptocurrencies

Russia🇷🇺: The Central Bank investigates money transfers abroad using cryptocurrencies

The Bank of Russia is monitoring cross-border cryptocurrency transfers made by Russian citizens from the 1st to the 3rd quarter of 2024.

📌 The goal of the study is to identify and evaluate the total volume of cryptocurrency transactions related to cross-border money transfers by Russian citizens.

📌 In mid-September, a focus group was created to test cross-border payments in cryptocurrencies.

📌 13 banks will participate in the study, which must provide data on cryptocurrency transfers made by their clients:
• Asian-Pacific Bank (ATB)
• Avangard
• Ak Bars
• Kuban Credit
• Soyuz
• Solidaridad
• UniCredit
• Unistream
• Cifra Bank
• BCS Bank
• Raiffeisenbank
• Citibank
• MTS Bank

📌 Previously, it was revealed that 79% of surveyed Russians have never had contact with cryptocurrencies, and only about 20% have used digital assets at least once.

📌 Context: This summer, the State Duma of Russia approved the law on mining and cryptocurrencies. With this legislation, commercial operations will begin testing, and authorities are expected to definitively regulate this activity by November.

#news #Russia #crypto

🏦 Payouter.com – trusted payment partner for CIS & India 🇮🇳: 1-click UPI, P2P, IMPS. Up to 87% conversion